Gold Prices Take a Step Back After Historic Peaks

Following a remarkable surge to an all-time high, gold prices experienced a downturn on Friday. Investors, eager to secure profits from the precious metal's recent rally, began selling off their holdings.

This shift comes as the market digests a series of economic indicators, including a surprising uptick in inflation and a noticeable contraction in January's retail sales. These factors collectively suggest that the Federal Reserve may delay any potential rate cuts, influencing investor sentiment towards gold.

By midday, the price of gold had fallen by 1.45%, settling at $2,887.34 per ounce, indicating a temporary retreat from its record-setting trajectory.